The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016. The applicant, Rajesh Gupta, an operational creditor, seeks a direction from the court to the Resolution Professional to accept the remaining claim of Rs. 67,79,661 along with interest as per Section 16 of the MSME Act, 2006, until actual realization. The applicant contends that the Corporate Debtor, M/s Jhabua Power Limited, issued purchase orders for items/services amounting to Rs. 47,16,354 and Rs. 95,11,857, which were supplied in August 2015. The applicant claims a loss of interest of Rs. 43,15,000 due to inordinate delay from August 1, 2015, to March 1, 2019, and also claims Rs. 18 Lakhs as time value of money and profit.
…Rajesh Gupta, an operational creditor, filed a claim against M/s Jhabua Power Limited, the corporate debtor, for unpaid dues related to items/services supplied. The original purchase orders amounted to Rs. 47,16,354 and Rs. 95,11,857, with the supplies made in August 2015. Gupta also claimed an additional Rs. 43,15,000 as loss of interest due to delayed payments from August 1, 2015, to March 1, 2019, and Rs. 18 Lakhs as time value of money and profit. The Resolution Professional (RP) admitted a portion of the claim (Rs. 59,47,339) but rejected the remaining Rs. 64,01,661, citing a lack of substantiation for the claimed interest, profit, legal fees, and other expenses. The RP also noted that Gupta did not initially disclose being an MSME and that the Facilitation
…Sign in to view the parties.
The applicant supplied…
The applicant filed a…
The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016. The applicant, Rajesh Gupta, an operational creditor, seeks a direction from the court to the Resolution Professional to accept the remaining claim of Rs. 67,79,661 along with interest as per Section 16 of the MSME Act, 2006, until actual realization. The applicant contends that the Corporate Debtor, M/s Jhabua Power Limited, issued purchase orders for items/services amounting to Rs. 47,16,354 and Rs. 95,11,857, which were supplied in August 2015. The applicant claims a loss of interest of Rs. 43,15,000 due to inordinate delay from August 1, 2015, to March 1, 2019, and also claims Rs. 18 Lakhs as time value of money and profit.
…Rajesh Gupta, an operational creditor, filed a claim against M/s Jhabua Power Limited, the corporate debtor, for unpaid dues related to items/services supplied. The original purchase orders amounted to Rs. 47,16,354 and Rs. 95,11,857, with the supplies made in August 2015. Gupta also claimed an additional Rs. 43,15,000 as loss of interest due to delayed payments from August 1, 2015, to March 1, 2019, and Rs. 18 Lakhs as time value of money and profit. The Resolution Professional (RP) admitted a portion of the claim (Rs. 59,47,339) but rejected the remaining Rs. 64,01,661, citing a lack of substantiation for the claimed interest, profit, legal fees, and other expenses. The RP also noted that Gupta did not initially disclose being an MSME and that the Facilitation
…The applicant supplied…
The applicant filed a…